As Variety first reported last week, DreamWorks was asking for a budget of around $30 million and sources familiar with the project say that Greengrass turned in a budget on Monday that was closer to $40 million -- more than the studio is willing to pay.
Sony is releasing on Oct. 11.
As for DreamWorks, the studio will now regroup to figure out how to make the picture at the price it wanted with a new director. Since it's a period piece and would need to recreate the 1968 riots, costs could be higher than originally anticipated.
DreamWorks is still very much interested in making the film with several insiders saying that Aaron Sorkin has delivered a fantastic script. Scott Rudin is currently on as a producer.
Greengrass is repped by CAA.
© 2013 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC